Micron Technology, Inc. (NASDAQ:MU) EVP Manish H. Bhatia Sells 97,107 Shares

Micron Technology, Inc. (NASDAQ:MU) EVP Manish H. Bhatia sold 97,107 shares of the business’s stock in a transaction that occurred on Friday, January 14th. The stock was sold at an average price of $96.02, for a total transaction of $9,324,214.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Shares of NASDAQ MU traded up $1.74 during mid-day trading on Friday, reaching $97.36. 18,373,008 shares of the company were exchanged, compared to its average volume of 19,483,834. Micron Technology, Inc. has a 52 week low of $65.67 and a 52 week high of $98.45. The company has a quick ratio of 2.36, a current ratio of 3.10 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $109.02 billion, a PE ratio of 15.02, a PEG ratio of 0.46 and a beta of 1.15. The company’s 50 day moving average price is $86.08 and its 200 day moving average price is $78.09.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings data on Monday, December 20th. The semiconductor manufacturer reported $2.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.11 by $0.05. Micron Technology had a net margin of 24.86% and a return on equity of 19.01%. The company had revenue of $7.69 billion during the quarter, compared to the consensus estimate of $7.68 billion. During the same period in the previous year, the firm posted $0.71 EPS. The firm’s revenue was up 33.2% compared to the same quarter last year. On average, sell-side analysts predict that Micron Technology, Inc. will post 8.62 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 18th. Shareholders of record on Monday, January 3rd will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.41%. The ex-dividend date of this dividend is Friday, December 31st. Micron Technology’s dividend payout ratio is presently 6.17%.

A number of institutional investors have recently bought and sold shares of MU. Vanguard Group Inc. boosted its stake in shares of Micron Technology by 0.5% during the second quarter. Vanguard Group Inc. now owns 88,446,158 shares of the semiconductor manufacturer’s stock valued at $7,516,154,000 after purchasing an additional 426,552 shares during the period. State Street Corp raised its holdings in shares of Micron Technology by 1.5% in the second quarter. State Street Corp now owns 46,005,104 shares of the semiconductor manufacturer’s stock valued at $3,909,514,000 after acquiring an additional 694,381 shares in the last quarter. Sanders Capital LLC raised its holdings in Micron Technology by 9.5% in the third quarter. Sanders Capital LLC now owns 40,391,375 shares of the semiconductor manufacturer’s stock worth $3,138,904,000 after purchasing an additional 3,492,076 shares in the last quarter. Capital Research Global Investors raised its holdings in Micron Technology by 38.8% in the third quarter. Capital Research Global Investors now owns 24,545,270 shares of the semiconductor manufacturer’s stock worth $1,742,232,000 after purchasing an additional 6,862,615 shares in the last quarter. Finally, Capital International Investors raised its holdings in Micron Technology by 3.9% in the second quarter. Capital International Investors now owns 19,965,598 shares of the semiconductor manufacturer’s stock worth $1,696,655,000 after purchasing an additional 742,598 shares in the last quarter. 77.38% of the stock is owned by institutional investors and hedge funds.

Several research firms have weighed in on MU. The Goldman Sachs Group increased their target price on Micron Technology from $101.00 to $116.00 and gave the company a “buy” rating in a research note on Monday. Needham & Company LLC reissued a “buy” rating and issued a $130.00 target price on shares of Micron Technology in a research report on Wednesday, September 29th. BMO Capital Markets initiated coverage on Micron Technology in a research note on Tuesday, December 21st. They issued a “buy” rating and a $115.00 price target for the company. JPMorgan Chase & Co. lifted their target price on Micron Technology from $100.00 to $115.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 21st. Finally, Susquehanna Bancshares reduced their target price on Micron Technology from $135.00 to $125.00 and set a “positive” rating for the company in a research note on Wednesday, September 29th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $111.93.

Micron Technology Company Profile

Micron Technology, Inc engages in the provision of innovative memory and storage solutions. It operates through the following segments: Compute & Networking Business Unit (CNBU), Mobile Business Unit (MBU), Storage Business Unit (SBU), and Embedded Business Unit (EBU). The CNBU segment includes memory products sold into cloud server, enterprise, client, graphics, and networking markets.

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Insider Buying and Selling by Quarter for Micron Technology (NASDAQ:MU)

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